Everyone seems so very bullish on $BTC right now and with good reason; huge amount of leveraged shorters selling BTC into a large cash buyer - only one of those sides can stand a shakeout and if the shorters have to cover it'll get ugly for them
Buuuut.
When you zoom out, we're still ranging around under the downtrend, I'm waiting for a pop above this line, something around $7500, if we do that then there is likely a decent run up to the last local high around $8500.
if 7500 goes I expect a decent rush for shorts to cover will push price up temporarily, if that move is convincing it'll bring in some more buyers, I'll be waiting for a retrace back around the 7300-7500 level
Buuuut.
When you zoom out, we're still ranging around under the downtrend, I'm waiting for a pop above this line, something around $7500, if we do that then there is likely a decent run up to the last local high around $8500.
if 7500 goes I expect a decent rush for shorts to cover will push price up temporarily, if that move is convincing it'll bring in some more buyers, I'll be waiting for a retrace back around the 7300-7500 level